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CITY OF SUNNY ISLES BEACH AMERICAN APPRAISAL ASSOCIATES, INC. CONSULTANT AGREEMENT CONTRACT NO: C0607-084 THIS CONTRACTUAL AGREEMENT (hereinafter referred to as the "Agreement") is made in triplicate, this ,q~ay of TlJ\~ ' 200.:1, by and between the CITY OF SUNNY ISLES BEACH, Florida, (hereina er referred to as "City"), and AMERICAN APPRAISAL ASSOCIATES, INC., (hereinafter referred to as "Consultant") whose Federal I.D. # is RECIT ALS WHEREAS, the City is in need of a professional valuation consultant to develop a comprehensive report covering the capital assets of the City and to assist the City in meeting the reporting requirements of the Governmental Accounting Standards Board's (GASB) Statement No. 34 and insurance placement, ("Services"), as more fully described in Attachment "A"; and WHEREAS, the Consultant represents that it has expertise to perform these Services; and WHEREAS, the City desires to retain Consultant to perform these Services in a total amount not to exceed Thirteen Thousand Two Hundred and Seventy-Five Dollars ($13, 275.00). NOW THEREFORE, in consideration of the foregoing and for the mutual covenants, representations and warranties and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: I. RECITALS. The Recitals set forth above are hereby incorporated into this Agreement and made a part hereof for reference. 2. CONSULTING SERVICES. Consultant shall provide to the City a detailed capital asset record, develop a project work plan, conduct an inventory of assets, and prepare final and status reports, as more particularly described in Attachment "A" attached hereto and made a part hereof. 3. TERM. Subject to the provisions relating to the termination of this Agreement as set forth in Paragraph 8 hereunder, the term of this Agreement shall begin upon the execution of this Agreement and shall end upon the completion of Services described in Attachment "A", and may be extended as necessary, in writing by the parties hereto. 4. COMPENSATION. Payment to Consultant for all charges under this Agreement shall be in accordance with this Agreement and a schedule of charges reflected in Attachment "A" in a total amount not to exceed Thirteen Thousand Two Hundred and Seventy-Five Dollars ($13,275.00). Thirty percent (30%) of this total amount, Three Thousand Nine Hundred and I C0607 -084 American Appraisal Associates, Inc. Consultant Agreement 1"';1." ~ ," 0'''' '.)